KrazyBee Services Pvt. Ltd. is a prominent Non-Banking Financial Company (NBFC) that powers the widely used KreditBee lending app. They specialize in offering instant personal loans to students, young professionals, and first-time borrowers. While the accessibility is a boon, the high interest rates, processing fees, and short repayment tenures can quickly turn a small loan into a massive financial burden.
Many borrowers find themselves borrowing from one app to pay another, falling into a debt trap. If you are a student facing threats of calls to your parents or college authorities, or a salaried professional worried about your reputation at work, you need to know that harassment is illegal.
At AMA Legal Solutions, we specialize in handling digital lending cases. We intervene to stop the harassment, handle the legal notices, and negotiate a One Time Settlement (OTS) with KrazyBee. Our goal is to help you close the loan for a fair, affordable amount so you can restart your financial journey.
Many borrowers are confused: "I took a loan from KreditBee, why is KrazyBee sending me notices?"
Small amounts for college expenses. Often defaulted due to lack of income.
Larger amounts for professionals. Default usually due to job loss.
Loans taken to buy products on Amazon/Flipkart via the app.
OTS is a legal exit route. KrazyBee agrees to close your loan account for a payment lower than the total outstanding. This is common for unsecured loans where recovery costs are high.
Daily late fees can double your loan amount in months. Settlement freezes this growth immediately.
Settlement ensures they stop calling your reference contacts, parents, or HR department.
You get a No Dues Certificate (NDC) from KrazyBee, proving the loan is closed and no further claim exists.
If you are still studying and have no income source, or if you graduated but haven't found a job yet.
If you lost your job or faced a salary delay, making it impossible to pay the EMI.
Delivery partners, freelancers, or drivers who faced a drop in daily earnings.
If the recovery agents have crossed legal lines (abusive language, calling relatives), we use this as a strong ground for settlement.
We check if your loan is with KrazyBee or a partner lender.
We issue a notice to stop calls to your parents and friends.
We talk to KrazyBee's central team to waive off the huge late fees.
We get a formal letter on KrazyBee letterhead confirming the deal.
You pay the amount, and the loan is closed permanently.
Recovery agents often cross the line with young borrowers, using fear and shame as tools. It is crucial to know that you have legal protection.
Calling your friends, relatives, or colleagues to shame you ("Loan Shaming") is a strict violation of RBI's Fair Practice Code and data privacy laws.
Our Action: We file formal complaints with the RBI Ombudsman and Cyber Crime portal if necessary, and send a legal notice to the lender to cease these activities immediately.
Agents cannot use abusive language, threaten physical harm, or claim they will "send police" to your home. These are scare tactics.
Our Action: We advise you to record these calls. We use these recordings as evidence to file grievances and use them as leverage during the settlement negotiation to get a better deal.
| Feature | EMI Extension | Loan Settlement (OTS) |
|---|---|---|
| Total Payment | Full Amount + Extra Interest | Reduced Amount (40-60% less) |
| Credit Score | Maintained | Impacted ("Settled") |
| Mental Peace | Debt continues for months | Immediate freedom |
A "Settled" status will drop your score. But for a student or young professional, having a "Written Off" status is worse. Settlement stops the damage. You can rebuild your score in 1-2 years by using a secured credit card or a small gold loan.
We understand the unique pressure on students and young professionals. Our approach is empathetic, confidential, and budget-friendly.
We take immediate legal steps to stop calls to your parents, college, or workplace, protecting your reputation while we negotiate.
We have successfully settled hundreds of KrazyBee cases, often achieving waivers of 50% or more on the outstanding amount.
"I took a ₹10,000 loan in college. It became ₹22,000 with late fees. They were calling my father. AMA Legal Solutions stopped the calls and settled it for ₹12,000."
Karthik R.
Student, Chennai
"I lost my job and couldn't pay my KreditBee EMI. The agents were abusive. AMA Legal Solutions handled them professionally and closed my loan."
Sneha Gupta
Job Seeker, Pune
Common queries about settling loans with KrazyBee / KreditBee
Our loan settlement services are available across all states and union territories in India